Meridian Bioscience Inc. (VIVO) Releases Quarterly Earnings Results, Hits Estimates
Meridian Bioscience Inc. (NASDAQ:VIVO) announced its quarterly earnings data on Thursday. The company reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The firm earned $47 million during the quarter, compared to analyst estimates of $47.70 million. Meridian Bioscience had a return on equity of 21.51% and a net margin of 17.95%. Meridian Bioscience’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. Meridian Bioscience updated its FY17 guidance to $0.81-0.85 EPS.
Meridian Bioscience (NASDAQ:VIVO) opened at 16.95 on Thursday. The company has a 50-day moving average price of $18.03 and a 200-day moving average price of $19.07. The company has a market capitalization of $713.36 million, a price-to-earnings ratio of 20.18 and a beta of 0.94. Meridian Bioscience has a one year low of $15.75 and a one year high of $21.49.
Several research firms have recently commented on VIVO. Zacks Investment Research raised Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Hilliard Lyons lowered Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Finally, Canaccord Genuity reaffirmed a “neutral” rating and set a $18.00 target price on shares of Meridian Bioscience in a report on Wednesday, October 19th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Meridian Bioscience currently has an average rating of “Hold” and an average target price of $20.00.
In related news, Chairman John A. Kraeutler bought 5,000 shares of the company’s stock in a transaction on Friday, November 4th. The stock was acquired at an average cost of $16.13 per share, for a total transaction of $80,650.00. Following the completion of the transaction, the chairman now directly owns 316,683 shares in the company, valued at approximately $5,108,096.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lawrence Baldini bought 4,900 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were bought at an average price of $16.00 per share, with a total value of $78,400.00. Following the completion of the transaction, the executive vice president now owns 95,501 shares of the company’s stock, valued at $1,528,016. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Stevens Capital Management LP bought a new stake in shares of Meridian Bioscience during the second quarter valued at about $376,000. Rhumbline Advisers raised its stake in shares of Meridian Bioscience by 0.8% in the second quarter. Rhumbline Advisers now owns 122,224 shares of the company’s stock valued at $2,383,000 after buying an additional 940 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Meridian Bioscience by 4.6% in the second quarter. Teachers Advisors Inc. now owns 67,309 shares of the company’s stock valued at $1,313,000 after buying an additional 2,980 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Meridian Bioscience during the second quarter valued at approximately $127,000. Finally, Analytic Investors LLC increased its position in shares of Meridian Bioscience by 69.4% in the second quarter. Analytic Investors LLC now owns 237,444 shares of the company’s stock valued at $4,630,000 after buying an additional 97,247 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.
About Meridian Bioscience
Meridian Bioscience, Inc (Meridian) is an integrated life science company. The Company is engaged in developing, manufacturing, selling and distribution of clinical diagnostic test kits, for certain gastrointestinal, viral, respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers, and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines.
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